Despite RBI assurance, few takers for Rs 10 coins

Though the Reserve Bank of India has been assuring time and again that Rs 10 coin is very much a legal tender and those refusing to accept it could face legal action, there are few takers. Even public transport undertakings run by government such as Bengaluru Metro Rail Corporation Ltd refuse to accept these coins. There have been numerous complaints that some of the shopkeepers, businessmen and autorickshaw drivers in the city declining Rs 10 coins.

All this started after fake messages started circulating in WhatsApp and other social media platforms that Rs 10 coin has been declared invalid by the central bank. Kishore Kumar, a software employee said, “Due to rumours on social media, people have stopped accepting the 10 rupee coins, even though it is against the law. I use metro for my daily commute to my office in Indrianagar and also own a BMRCL smart card. But sometimes because of lack of time to recharge the card, I buy tickets at station counter. Myself and many of my friends have often experienced that in some metro station the staff refuses to accept 10 rupee coin. We do not have the option to argue, because most often there will be a huge crowd and people waiting in the long queue get restless.”

He said the metro station staff manning the ticket counters has little fear of higher authorities. “Being a government organisation they have no right to reject 10 rupee coins. BMRCL should take this matter seriously,” Kishore added. There were also rumours of counterfeit coins having flooded in the market. Many others also claimed that RBI has phased out the coins and those in circulation were fake. Many also claimed the gold polish was coming off. Many people even visited banks seeking currency note in exchange to coins. The RBI had dismissed all these claims and advised people not to pay heed to such rumours.